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Authors

Rob DavisFollow

Abstract

Extract:

A hardening insurance market, increased reinsurance costs, the events of 11 September 2001 and overly aggressive price competition by insurers throughout the 1990s have all combined to create a premium ‘crisis’ in the insurance industry.
A decline in competition since HIH/FAI departed from the general liability market provoked a massive rise in premiums by those remaining in the market. The likely departure of UMP from the medical indemnity market will evoke a similar crisis for medical indemnity insurance.

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